Raleigh Housing Market

By Nick Leverett

Raleigh sees major home inventory expansion as prices tick up

The number of homes for sale in Raleigh shot up 24.9% in February amid price appreciation and a decline in sales compared to last year.

Raleigh’s home price appreciation outpaces national growth

Raleigh’s median home price rose 2.1% year over year in February, marking a return to growth following two months of year-over-year declines. Nationally, the median sale price increased just 0.2% in February compared to last year.

Raleigh inventory expands at fastest rate among top 40 US markets

Active listings in Raleigh rose 24.9% in February, the sharpest increase among the top 40 markets nationally. Inventory expanded in 36 of the top 40 markets in the U.S.

Raleigh home sales decline again

Raleigh home sales in February were down 2.8% from a year earlier. The annual decline was Raleigh’s second in a row, and fourth out of the past five months.


Horizontal bar chart ranking annual percent change in February active listings across U.S. markets, with Raleigh up 24.9%.
Raleigh active listings rose 24.9% year over year, ranking as the fastest-growing inventory among the nation's top 40 markets.


Raleigh Sale Prices

The median home sale price in Raleigh rose 2.1% in February compared with the same month last year, marking a return to year-over-year growth after two months of annual declines.

Raleigh’s median home price rises in February, outpacing modest national growth

Raleigh’s median home price rose 2.1% year over year in February, increasing by $8,885 to $430,000. The growth followed two consecutive months of year-over-year declines, including January, when Raleigh had the steepest percentage decline among the country’s top 40 markets. Nationally, the median sale price increased just 0.2% in February.

Raleigh detached homes see price appreciation, while prices fall for other home types

Raleigh detached homes posted an annual 2.9% increase in February, while townhome prices declined 6.2% compared to the same month last year. Prices for condos fell even more sharply, dropping 19.6% year over year.

Raleigh remains more expensive than the national average and most regional markets

Raleigh’s median home price of $430,000 was still well above the national median of $375,885. The median home price in Raleigh also remained above the median prices in regional markets such as Charlotte ($405,000), Richmond ($395,000), and Atlanta ($392,000).


Key indicator tiles showing Raleigh versus U.S. sale prices, annual growth, dollar change, and national rankings.
Raleigh’s median sale price reached $430,000, rising 2.1% annually, outperforming the U.S. and ranking 18th in price and 14th in growth nationally.


Bar chart showing Raleigh February sale prices from 2018 to 2026, rising to $430,000.
Raleigh prices increased to $430,000 in February 2026.


Area chart illustrating Raleigh’s annual percent change in sale prices from 2018 to 2026, highlighting post-peak normalization.
After cresting near 30% growth in 2022, Raleigh’s annual price change has stabilized around low single-digit increases and decreases, rising slightly in February 2026.


Bar chart showing Raleigh’s annual percent change in February sale prices from 2018 through 2026.
Annual price growth was 2.1% in February 2026, in line with 2.0% annual growth in February 2025.


Horizontal bar chart ranking February sale prices across U.S. markets, highlighting Raleigh at $430,000.
At $430,000, Raleigh sits near the middle of major U.S. markets—below high-cost coastal metros but above many Southern and Midwest peers.


Bar chart showing annual percent change in February sale prices across U.S. markets, with Raleigh at 2.1%.
Raleigh posted 2.1% annual growth, placing it among moderately appreciating markets while about half of large metros reported declines.


Data point boxes showing Raleigh sale prices by home type with detached up 2.9%, attached and condos declining sharply.
Detached homes anchor Raleigh pricing at $464,745, up 2.9% year over year (+$13,245), while attached homes (‑6.2%) and condos (‑19.6%) experienced price declines.


Side-by-side bar charts comparing Raleigh sale prices and annual percent change by home type in February 2026.
Detached home prices in Raleigh increased 2.9% year over year to $464,745, while attached ($336,590) and condo ($282,000) prices experienced significant year-over-year declines.


Raleigh Inventory

Active listings in Raleigh rose 24.9% in February, the sharpest increase among top 40 markets nationally.

Raleigh listings rise 24.9%, the sharpest increase among major US markets

Raleigh active listings totaled 4,635 in February, an increase of 924 year over year. The 24.9% annual increase was the steepest increase among the 40 largest U.S. markets. Nationally, active listings rose 14.2%. Other markets with large increases include Washington, D.C. (24.8%) and Detroit (24.4%). Jacksonville, San Francisco, Phoenix, and the Inland Empire were the only large markets with fewer homes available for purchase in February than a year ago.

Raleigh inventory expands across home types, led by condos

Inventory growth occurred across all housing types in Raleigh. Single-family listings rose by 21.9%, townhome inventory increased 22.8%, and condo inventory grew the fastest, jumping 53.4% year over year. Single-family homes account for most listings (3,446), while faster growth in attached and condo inventory suggested improving availability of more affordable property types.

Raleigh housing inventory is still relatively low

Despite the steep annual increase, housing inventory in Raleigh was still relatively low. Among the 40 largest U.S. markets, only four had fewer active listings than Raleigh’s 4,635. San Francisco and San Jose had the fewest active listings, while Houston and Dallas had the highest inventory.


Data point boxes showing Raleigh and U.S. active listings, annual percent change, numeric change, and national rankings.
Raleigh had 4,635 active listings in February 2026, up 24.9% year over year, ranking 1st nationally for growth among major markets.


Monthly bar chart showing Raleigh active listings from 2018 to 2026, showing roughly 4,600 listings in February 2026.
Active listings in Raleigh climbed back to 4,635 in February 2026, the second month in a row of rising inventory.


Area chart showing Raleigh annual percent change in active listings from 2018 to 2026, showing consistently increasing inventory recently.
Raleigh inventory growth has been consistently positive in recent months and was about 25% in February 2026.


Bar chart showing Raleigh year-over-year percent change in February active listings from 2018 through 2026.
February 2026 marked a 24.9% increase in active listings, the second February in a row of increasing inventory, reversing declines seen in 2024 and reinforcing a supply rebound.


Horizontal bar chart comparing February active listings across U.S. markets, with Raleigh reporting 4,635 active listings.
With 4,635 active listings, Raleigh sits below larger Sun Belt metros but ahead of several coastal and Midwest markets.


Horizontal bar chart ranking annual percent change in February active listings across U.S. markets, with Raleigh up 24.9%.
Raleigh active listings rose 24.9% year over year, ranking as the fastest-growing inventory among the nation's top 40 markets.


Data point boxes showing Raleigh active listings by home type with counts, annual percent change, and numeric growth values.
Condo listings in Raleigh surged 53.4% annually in February 2026, while detached and attached inventory rose 21.9% and 22.8%, respectively.


Side-by-side bar charts showing Raleigh active listings by property type and annual growth rates in February 2026.
Detached homes dominate Raleigh supply at 3,446 listings, while condos post the fastest growth at 53.4% year over year.


Raleigh Home Sales

Raleigh recorded 1,379 home sales in February, a 2.8% year-over-year decline, with about 40 fewer closings than last February.

Raleigh home sales post another annual decline

Raleigh home sales totaled 1,379 in February, down 2.8% from a year earlier. The annual decline was Raleigh’s second in a row, and fourth out of the past five months.

Raleigh’s decline in home sales is not as steep as the national drop

While home sales in Raleigh fell 2.8%, that drop was not as sharp as the national decline. Across the US, about 219,000 homes sold in February, a 3.7% year-over-year decline. Among the 40 largest markets in the U.S., 33 experienced lower home sales in February than a year ago, with the sharpest drops in Philadelphia (14.1%), Dallas-Fort Worth (12.6%), and Pittsburgh (12.2%).

Raleigh home sales fall for townhomes and condos, but rise for single-family homes

Raleigh’s overall reduction in home sales was driven by sharp declines in townhomes and condos, while single-family home sales rose. Townhomes posted the steepest decline in Raleigh, with sales in February falling 29.3% year over year. Condo sales in Raleigh also dropped, falling 13.3% compared to February a year ago. By contrast, single-family sales in Raleigh were up 6.3% compared to last year.


Key indicator tiles showing Raleigh and U.S. home sales, annual percent change, numeric change, and national rankings.
Raleigh posted 1,379 sales, down 2.8% annually, ranking 15th in growth and 12th in absolute change nationally.


Monthly bar chart showing Raleigh home sales from 2018 to 2026, with volumes lower than pandemic-era peaks.
Monthly sales remain below the 2020–2021 highs, reflecting affordability pressures and a slower-paced housing market in 2026.


Area chart showing Raleigh annual percent change in home sales from 2018 to 2026.
After steep declines in 2022–2023, Raleigh home sales growth has posted modest increases and declines in recent months.


Bar chart showing Raleigh year-over-year percent change in February home sales from 2018 through 2026.
February 2026 sales fell 2.8% year over year, marking a smaller decline than the sharper pullbacks seen in 2023.


Horizontal bar chart ranking February home sales across U.S. markets, with Raleigh recording 1,379 transactions in February 2026.
With 1,379 February sales, Raleigh ranked on the lower side nationally, trailing large Sun Belt metros but ahead of several peers.


Horizontal bar chart ranking annual percent change in February home sales across U.S. markets, highlighting Raleigh at ‑2.8%.
Raleigh’s ‑2.8% decline outperformed many large markets, placing it in the upper half of national sales trends.


Data point boxes showing Raleigh home sales by home type with sales counts, annual percent change, and numeric growth values.
Detached homes led activity with 1,101 sales and 6.3% growth, while attached (‑29.3%) and condo (‑13.3%) sales declined sharply.


For questions and commentary about this report:

Nick Leverett, Director of Market Analytics at CoStar and Homes.com, based in Raleigh, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Nick Leverett

Director of Market Analytics

Homes.com

nleverett@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Raleigh during February 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.

Writer
Nick Leverett

Nick Leverett is the Director of Market Analytics at CoStar and Homes.com. Nick analyzes data and trends to provide insight into the commercial and residential real estate markets in Raleigh, Durham, Richmond, and the Piedmont Triad. On the residential side, he provides insights into home prices, inventory levels, and rental conditions. Nick’s 20 years of real estate experience include leading the market research team at the real estate investment firm Dilweg, where his research informed decisions on over $380 million in acquisitions, and advising clients on commercial real estate transactions as a practicing attorney. Nick is a regular speaker at key industry events, and his research and analysis have been featured in numerous media outlets, including The News & Observer, the Triangle Business Journal, and Axios Richmond. Nick holds a Juris Doctor from Washington & Lee University School of Law and a Master of Business Administration from Tulane University.

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